ASEAN Economic Issues (July 2023)

Trade & Investment Unit, ASEAN-Korea Centre

ASEAN-Korea Key Statistics

■ Korea’s Overseas Direct Investment to ASEAN (as of Q1 2023)

단위: 백만 불

Country/Region	Year/Quarter
	2019/Q1	2020/Q1	2021/Q1	2022/Q1	2023/Q1
Total	15,271.1	15,762.8	11,389.0	28,240.0	16,489.6
ASEAN	2,522.8	2,208.7	1,560.8	2,325.0	1,263.1
Brunei Darussalam	0.0	0.4	0.4	0.3	0.1
Cambodia	81.8	38.5	40.6	19.3	130.6
Indonesia	231.6	235.0	176.2	387.3	256.9
Lao PDR	6.8	0.8	5.3	19.0	3.2
Malaysia	22.3	76.5	9.2	289.6	62.9
Myanmar	67.7	96.4	113.4	111.8	44.7
Philippines	26.6	28.1	8.8	16.5	25.0
Singapore	1,092.5	882.0	438.2	1,033.5	244.4
Thailand	19.7	42.1	30.1	45.6	45.2
Vietnam	973.8	808.9	738.6	402.2	450.1
United States	3,887.2	5,563.4	4,300.5	9,097.5	8,532.1
China	1,693.0	742.1	862.5	6,190.1	671.5
Japan	273.8	163.4	91.1	247.6	191.6

출처: 수출입은행

(총괄) 2023년 1분기 한국의 해외직접투자액은 전년동기(282.4억 달러) 대비 41.6% 감소한 164.9억 달러를 기록하였으며 아세안의 경우 54.3% 감소한 12.6억 달러를 기록하였음.

(국가별) 상위 투자대상국 중 1위는 미국(85.3억 달러)이 차지하였고 對중국(6.7억 달러) 투자는 크게 감소하였음. 아세안 국가 중에서는 베트남과 캄보디아 투자액이 전년동기 대비 증가(각각 11.9%, 575.7%) 하였으나 싱가포르의 경우 76.4% 감소하였음

(사업체별) 대기업 신규 법인수는 감소(20.5%)하였으나 중소기업, 개인 증가(각각 11.4%, 11.2%) 등으로 전체 법인수는 증가하였음.

(업종별) 투자액이 많은 업종은 금융보험업, 제조업, 광업 순이었으며 제조업의 경우 미국, 베트남(18.3%, 49.7%)의 투자액 증가에도 불구하고 중국이 대폭 감소(89.7%)함에 따라 전반적인 제조업 투자액은 감소하였음.

* 상반기 외국인직접투자 금액 (2019-2023) 단위: 십억 불

	2019/Q1,2	2020/Q1,2	2021/Q1,2	2022/Q1,2	2023/Q1,2
Total	9.87	7.66	13.14	11.09	17.09

(FDI) 전년동기 대비 급락한 ODI와 달리 FDI는 반도체, 이차전지 등 첨단 산업을 중심으로 외국인 투자가 늘어 산업통상자원부에 의하면 전년 대비 54.2% 증가한 170.9억 달러로 상반기 역대 최대 규모를 기록하였음.

■ Korea’s Trade to ASEAN countries (As of June 2023)

단위: 백만 불

Country/Region	June 2023			June 2022	2022
	Export	Import	Total	Total	Total
Total	54,231	53,105	107,335	117,830	1,414,954
ASEAN	8,551	6,660	15,211	16,361	207,418
Brunei Darussalam	5	0	5	7	345
Cambodia	51	53	104	77	1,051
Indonesia	832	997	1,829	1,909	25,951
Lao PDR	12	6	18	12	150
Malaysia	760	1,406	2,166	1,973	26,723
Myanmar	32	24	56	60	1,013
Philippines	655	378	1,032	1,636	17,484
Singapore	1,219	1,069	2,288	2,408	30,553
Thailand	672	687	1,360	1,450	16,461
Vietnam	4,313	2,040	6,353	6,829	87,688
China	10,499	11,800	22,299	27,119	310,366
Japan	2,554	4,333	6,887	7,181	85,318

출처: 관세청

■ IMD World Competitiveness Ranking 2023

	2019	2019	2020	2021	2022	2023
Reference	World Economic Forum (WEF)	International Institute for Management Development (IMD)
Brunei	56	N/A	N/A	N/A	N/A	N/A
Cambodia	106	N/A	N/A	N/A	N/A	N/A
Indonesia	50	32	40	37	44	34
Lao PDR	N/A	N/A	N/A	N/A	N/A	N/A
Malaysia	27	22	27	25	32	27
Myanmar	N/A	N/A	N/A	N/A	N/A	N/A
Philippines	64	46	45	52	48	52
Singapore	1	1	1	5	3	4
Thailand	40	25	29	28	33	30
Vietnam	67	N/A	N/A	N/A	N/A	N/A
Korea	13	28	23	23	27	28
China	28	14	20	16	17	21
Japan	6	30	34	31	34	35

• 스위스 국제경영개발대학원에서 발표한 IMD 국가경쟁력 보고서는 지난 1989년부터 국가별 경쟁력을 각 지표에 따라 경제 성과·정부 효율성·기업 효율성·인프라 등을 평가하여 매년 순위와 함께 발표하고 있음. 2023년 조사 대상국은 총 64개국으로¹⁾ 경제계, 정부기관, 학계 등의 피드백을 수용하여 선정된 336개의 기준을 사용하고 있음. 해당 지표들은 주기적으로 업데이트 및 수정되며 자세한 내용은 링크에서 확인 가능함.
  
• 올해 1위는 작년에 이어 덴마크가 차지하였고 이어 아일랜드, 스위스 순이었음. 아세안 국가 중에는 전체 4위를 차지한 싱가포르의 순위가 가장 높았고 특히 국제투자 및 기술 인프라, 고용 부문에서 두각을 보였음. 한국은 64개국 중 28위로 전년 대비 1단계 하락²⁾
• 말레이시아는 한국보다 한 단계 높은 27위를 기록하여 아세안 국가 중에서는 싱가포르 다음으로 2위를 기록함. IMD 보고서는 세계 경제의 위기에도 불구하고 성장한 말레이시아의 낙관적인 미래를 언급함³⁾. 태국은 작년 33위에서 올해 30위로 상승하였고 고용과 노동시장 개선이 주된 요인으로 꼽힘.
• 인도네시아는 44위에서 34위로 가장 크게 성장하였고 64개국 중에서 1위를 차지하는 강력한 노동 시장이 ‘Business Efficiency’ 항목에 가장 큰 기여를 했음을 보여줌. 필리핀의 경우 전년 대비 네 계단 내려간 52위를 기록했으며⁴⁾ 해당 보고서에 따르면 2023년 필리핀이 직면할 과제로는 사회적 보호 및 의료 시스템 강화 및 교육 시스템 개선을 위한 학습 격차 해소 등이 언급되었음.
• 이처럼 IMD 보고서는 각 국가가 장기적인 가치 창출을 위해 해당 지표들을 어떤 식으로 관리하는지를 조사 및 분석하여 순위를 매김. GDP와 생산성 지표 이외에도 기업이 정치·사회·문화적 요인에 어떻게 대처하는지도 순위에 함께 반영함.

1) 발표되지 않은 아세안 국가의 경우 IMD와 파트너기관(한국의 경우 KIEP)이 부재하여 포함되지 않은 것임.
2) 2023년 국제경영개발대학원(IMD) 국가경쟁력 평가 결과 (기획재정부)3) Economists: Improvement in IMD World Competitiveness Ranking reflects investors’ confidence in Malaysia (Malaymail)4) Global competitiveness: Philippine drops 4 spots to 52nd (Philstar)

 
 

ASEAN Economic Issues (July 2023)

Trade & Investment Unit, ASEAN-Korea Centre

ASEAN-Korea Key Statistics

■ Korea’s Overseas Direct Investment to ASEAN (as of Q1 2023)

Unit: 1 million (USD)

Country/Region	Year/Quarter
	2019/Q1	2020/Q1	2021/Q1	2022/Q1	2023/Q1
Total	15,271.1	15,762.8	11,389.0	28,240.0	16,489.6
ASEAN	2,522.8	2,208.7	1,560.8	2,325.0	1,263.1
Brunei Darussalam	0.0	0.4	0.4	0.3	0.1
Cambodia	81.8	38.5	40.6	19.3	130.6
Indonesia	231.6	235.0	176.2	387.3	256.9
Lao PDR	6.8	0.8	5.3	19.0	3.2
Malaysia	22.3	76.5	9.2	289.6	62.9
Myanmar	67.7	96.4	113.4	111.8	44.7
Philippines	26.6	28.1	8.8	16.5	25.0
Singapore	1,092.5	882.0	438.2	1,033.5	244.4
Thailand	19.7	42.1	30.1	45.6	45.2
Vietnam	973.8	808.9	738.6	402.2	450.1
United States	3,887.2	5,563.4	4,300.5	9,097.5	8,532.1
China	1,693.0	742.1	862.5	6,190.1	671.5
Japan	273.8	163.4	91.1	247.6	191.6

Reference: Korea Eximbank

(Overview) Korea’s Overseas Direct Investment (ODI) amounted to USD 16.4 billion in the first quarter (January to March) of 2023, falling by 41.6% compared to the same period last year. ODI to ASEAN countries amounted to USD 1.2 billion in Q1 2023.

(By Country) Top destination for Korea’s ODI were the U.S. (USD 8.5 billion), while investment in China (USD 0.67 billion) largely declined. For ASEAN countries, investments in Vietnam and Cambodia increased year-on-year (11.9% and 575.7%, respectively), but in Singapore, investment decreased by 76.4%.

(By Business Size) The number of newly established large enterprises recorded a decrease of 20.5%, but the total number of enterprises overall grew due to the increase in SMEs and individuals, by 11.4% and 11.2% respectively.

(By Industry) Major sectors for ODI are 1) finance and insurance, 2) manufacturing, 3) mining, and 4) real estate and renting. For the manufacturing sector, overall manufacturing investment fell as investments in China decreased significantly (89.7%) despite the increase in investments in the U.S. (18.3%) and Vietnam (49.7%).
* Foreign Direct Investment (2019-2023) into ROKUnit: 1 billion (USD)

	2019/Q1,2	2020/Q1,2	2021/Q1,2	2022/Q1,2	2023/Q1,2
Total	9.87	7.66	13.14	11.09	17.09

(FDI) Foreign Direct Investment (FDI) into ROK increased 54.2% year-on-year to USD 17.1 billion, the highest ever, in terms of FDI in the first half of the year. According to the Ministry of Trade, Industry and Energy, the electric and electronics field, which includes the semiconductor and secondary battery industries, saw a foreign investment spike of 663%.

■ Korea’s Trade to ASEAN countries (As of June 2023)

Unit: 1 million (USD)

Country/Region	June 2023			June 2022	2022
	Export	Import	Total	Total	Total
Total	54,231	53,105	107,335	117,830	1,414,954
ASEAN	8,551	6,660	15,211	16,361	207,418
Brunei Darussalam	5	0	5	7	345
Cambodia	51	53	104	77	1,051
Indonesia	832	997	1,829	1,909	25,951
Lao PDR	12	6	18	12	150
Malaysia	760	1,406	2,166	1,973	26,723
Myanmar	32	24	56	60	1,013
Philippines	655	378	1,032	1,636	17,484
Singapore	1,219	1,069	2,288	2,408	30,553
Thailand	672	687	1,360	1,450	16,461
Vietnam	4,313	2,040	6,353	6,829	87,688
China	10,499	11,800	22,299	27,119	310,366
Japan	2,554	4,333	6,887	7,181	85,318

Reference: Korea Customs Service

■ IMD World Competitiveness Ranking 2023

	2019	2019	2020	2021	2022	2023
Reference	World Economic Forum (WEF)	International Institute for Management Development (IMD)
Brunei	56	N/A	N/A	N/A	N/A	N/A
Cambodia	106	N/A	N/A	N/A	N/A	N/A
Indonesia	50	32	40	37	44	34
Lao PDR	N/A	N/A	N/A	N/A	N/A	N/A
Malaysia	27	22	27	25	32	27
Myanmar	N/A	N/A	N/A	N/A	N/A	N/A
Philippines	64	46	45	52	48	52
Singapore	1	1	1	5	3	4
Thailand	40	25	29	28	33	30
Vietnam	67	N/A	N/A	N/A	N/A	N/A
Korea	13	28	23	23	27	28
China	28	14	20	16	17	21
Japan	6	30	34	31	34	35

• First published in 1989, IMD World Competitiveness Yearbook is a comprehensive annual report and worldwide reference point on the competitiveness of countries, released by the Switzerland-based International Institute for Management Development (IMD). The ranking covers 64 countries¹⁾ around the world and considers 336 criteria selected resulting from comprehensive research. The methodology of the World Competitiveness ranking divides the national environment into four main factors: Economic Performance, Government Efficiency, Business Efficiency, and Infrastructure. The criteria are revised and updated regularly – details on the criteria can be found here.
• In 2023, Denmark topped the list, followed by Ireland and Switzerland. Among ASEAN countries, Singapore (4th) remains in the top and performs well especially in employment, international investment and technological infrastructure. Korea’s global competitiveness ranking dropped by one notch to 28th in the annual ranking, compared to previous year.²⁾
• Malaysia has climbed five notches to 27th place among the world’s economies and places as the 2nd most competitive ASEAN economy after Singapore. The report indicates the country’s optimistic and resilient success in the face of global economic uncertainties and crises, as well as multifaceted domestic obstacles.³⁾
• Thailand’s ranking has improved from 33rd in 2022 to 30th this year, attributing to sub-factors such as employment and labor market. 
• Indonesia experienced the largest increase to 34th from 44th. Its progress is driven by robust achievements in economic performance and business efficiency thanks to its strong labor market, which ranks first out of the entire 64 economies.
• The Philippines has dropped four steps for this year’s World Competitiveness Yearbook to the 52nd position.⁴⁾ Some of the challenges that the Philippines faces in 2023 include strengthening social protection and health-care systems for inclusive development and addressing learning gaps to improve local education system.
• The report uses a combination of surveys, statistical data and trends to analyze and rank countries according to how they manage their competencies to achieve long-term value creation. In addition to GDP and productivity, it investigates how enterprises cope with political, social, and cultural factors.

1) Some AMS has not been included in the list as they have not established a partnership with IMD.
2) South Korea competitiveness ranking dropped by one notch to 28th (Yonhap News Agency)3) Economists: Improvement in IMD World Competitiveness Ranking reflects investors’ confidence in Malaysia (Malaymail)4) Global competitiveness: Philippine drops 4 spots to 52nd (Philstar)